If the Winklevoss Twins Win, $GBTC Shareholders Will Lose

Thursday, February 23, 2017 19:04

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ibankcoin.com / Dr. Fly / Feb 23, 2017

Let’s be clear. No one wants the Winklevoss twins to win. Those pedantic row boating Facebook lottery winning shits don’t deserve to keep winning like this. I don’t know how they keep getting away with it. Hopefully, the SEC will finally put an end to the ‘twin madness’ by declining their bitcoin ETF proposal, ticker COIN.

It’s widely believed, at least from gambling degenerates, the first ever pure bitcoin trust will be declined by the C students at the SEC.

As of Tuesday morning, the prediction contract’s pricing implied a 36.37 percent chance that the proposal, which has been tweaked about a dozen times over a registration battle that’s stretched over three years, will be successful.

Yeah, whatever, good.

Presently, there is a bullshit derivative based bitcoin ETF, dubbed $GBTC. Management fees are of the ripoff varietal at 2%. And, it’s trading at a significant premium to its reported NAV — due to scarcity of bitcoin product for normies.